In this subchapter, "authorized life insurance company" means a stock or mutual legal reserve life insurance company that:

1. (1) is licensed by the Texas Department of Insurance to transact the business of life insurance in this state; and
2. (2) maintains the legal reserve required by the laws of this state.

Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.